Home / Knowledge / News / Apparel/Garments / Sales rise 11% at Francesca's Holdings in Q3
Sales rise 11% at Francesca's Holdings in Q3
05
Dec '13
Francesca's Holdings Corporation reported net income of $8.7 million or $0.20 per diluted share for the third quarter of 2013, compared to net income of $10.8 million or $0.24 per diluted share for the third quarter of 2012.

Net sales for the thirteen weeks increased 11% to $79.6 million driven by 87 new boutique openings since the prior year quarter. Performance was strongest in accessories, outpacing increases in apparel and jewelry, and a decline in gifts.

Comparable sales, including direct-to-consumer sales, decreased 3%, as compared to a 17% increase in the prior year quarter. Comparable transactions decreased 3%, with a flat average transaction size. Direct-to-consumer sales increased 87% versus the prior year quarter driven by increases in site traffic, conversion rates, and average transaction values.

Ten new boutiques were opened during the third quarter bringing new openings for the year to date to 86. We expect an additional five boutique openings in the fourth quarter bringing the full year to 91.

Gross profit, as a percentage of net sales, decreased to 50.7% compared to 52.6% in the prior year quarter. This decrease was due to 160 basis points of deleveraging of fixed occupancy costs and 30 basis points of lower merchandise margins. Decrease in margin was due to elevated markdowns compared to the prior year quarter.

Selling, general and administrative expenses increased 28% to $25.8 million from $20.1 million in the prior year quarter. As a percentage of net sales, selling, general and administrative expense increased 440 basis points to 32.4% compared to 28.0% in the prior year quarter.

This increase was primarily due to higher payroll expenses associated with expansion of the field leadership structure for the long-term and those needed to support the additional number of boutiques in operation during the third quarter.

Selling, general and administrative expenses for the third quarter 2012 include a pre-tax charge of $342,000 related to the relocation of our headquarters and distribution facilities. Excluding this charge, adjusted selling, general and administrative expenses for the third quarter 2012 were $19.8 million, or 27.5% of net sales.

Income from operations for the quarter decreased 18% to $14.6 million or 18.3% of net sales compared to $17.7 million or 24.6% of net sales in the prior year quarter. Excluding the aforementioned relocation charge, adjusted income from operations for the third quarter 2012 was $18.1 million, or 25.1% of net sales.

Francesca's Holdings


Must ReadView All

Courtesy: BekaertDeslee

Textiles | On 23rd Oct 2017

BekaertDeslee to expand North American facility

BekaertDeslee, one of the largest manufacturer of mattress textiles...

Courtesy: A&E

Textiles | On 23rd Oct 2017

A&E unveils Magic using Repreve sewing thread

American & Efird (A&E), a leading developer of industrial and...

Courtesy: Messe Frankfurt

Textiles | On 23rd Oct 2017

Over 4,000 exhibitors attend Intertextile Shanghai 2017

Another successful Intertextile Shanghai Apparel Fabrics has wrapped...

Interviews View All

Spokesperson
Hugo Boss

'Hugo Boss works with carefully selected sourcing partners'

Riddhika Shah
SS Homme

'Worsted wool is the ideal fabric for menswear'

Kaizad Hansotia
GetNatty

Competition is the best thing that can happen to a startup

Suresh P Bagrecha

Komal Texfab, founded in 1981, is into manufacturing of knitted fabrics,...

Rikesh Mistry

Jupiter Comtex Pvt Ltd, established in 1973, started its textile machinery ...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Eric Scholler
Groz-Beckert

The Indian market has huge potential in technical textiles, and by far,...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Sidharth Sinha
Sidharth Sinha

<b>Sidharth Sinha</b> has contributed to the successful rebirth and...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

October 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
76.1%
No
12.7%
Skip
11.3%

Total Votes: 71

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
62.0%
No
28.2%
Skip
9.9%

Total Votes: 71

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
85.9%
No
9.9%
Skip
4.2%

Total Votes: 71

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
76.1%
No
11.3%
Skip
12.7%

Total Votes: 71


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search